Prime Minister Hun Sen has revealed that Minebea (Cambodia) will explore the possibility of setting up a factory in Pursat province that will use solar power as its major energy supply.
Speaking at the 11th anniversary of the operations of Minebea (Cambodia) on Thursday, Hun Sen said that Minebea Cambodia has already invested heavily in Cambodia, producing electric motors for export. Currently, the company also produces LED lights and toys.
He added Minebea Cambodia stated that in 2019, its investment in Cambodia was worth $400 million, providing employment to more than 6,000 Cambodians.
Hun Sen said that Keo Rottanak, managing director of Electricité du Cambodge (EDC), has informed him that he will take Yoshihisa Kainuma, CEO of Minebea, to Pursat to tap into the existing 90-megawatt solar energy supply there.
“If another factory is to be set up in Pursat Province, I will tell them to install and use solar energy to supply the factory,” Hun Sen said.
There are only two main issues that Japanese investors often ask when investing in Cambodia, Hun Sen said, adding that the first is related to the price of electricity, whether it is profitable, and second is skilled labor.
Hun Sen also suggested that human resource training be strengthened and that the company will not only employ 6,000 people but it will expand hiring.
Economist Ky Sereyvath said that Pursat province sits close to Phnom Penh city and is easy to travel to. In addition, the government also plans to construct an expressway and land prices remain cheap, which is good for investment.
“Building a factory requires land. If the land price is high, it will be difficult to build a factory. On the other hand, some people there have left to work in other provinces because there are no job opportunities, so this creation is an opportunity for people to keep the economy in the province,” Sereyvath said.
“We know that between Battambang and Phnom Penh, Pursat and Kampong Chhnang, economic growth is slower than in Banteay Meanchey and other provinces. Investing in Pursat province will help the people and balance the economic birth of the provinces in Cambodia as a whole,” he added.